George Wilkinson

Bank of Ghana Ended 2025 With international reserves hitting record $13.8bn​​, the highest reserve level in the country’s history.

In simple terms, this is Ghana’s foreign currency savings account, and it grew by about $5 billion in one year.

Even after the government paid $709 million to service Eurobond debt in December, the reserves still closed the year at record highs.

So what does this mean?
• It gives the Bank of Ghana real firepower to defend the cedi
• It reassures investors that Ghana can pay its foreign debts
• It reduces panic during tough periods like early-year imports and dividend payments
• It boosts confidence in the economy both locally and internationally

This is one big reason the cedi shocked everyone in 2025, gaining over 40% against the dollar and ending the year around GH¢10.45/$.

Analysts say gold purchases and tighter reserve management did the heavy lifting and the buffer is now strong enough to absorb any seasonal pressure.

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VALCO Is Quietly Waking Up — And It Could Change Ghana’s Industrial Story

For over 15 years, VALCO was basically on life support.
Running at just 23% capacity. Barely breaking even. Waiting for a miracle.
That wait, according to new management, is over.

At a media tour in Tema, VALCO’s acting CEO Dr. Robert Makila Sambian laid out a plan that labelled bold would be an understatement. If it works, VALCO could create 5,000 direct jobs, pull in over $1 billion a year, and add more than 1% to Ghana’s GDP.

Here’s the big shift:
VALCO is no longer content exporting raw aluminum and bleeding money. For the first time since the 1960s, the smelter has started test-producing finished aluminum products, electrical conductor rods, right here in Ghana. Samples are already in Europe for certification.

Behind the scenes, they’ve moved fast. New equipment. More operational potlines. A push to scale from 122 cells to 150 by year-end. Plans to switch to cheaper natural gas. Even systems to recycle waste and cut environmental damage.

But the real ambition goes further. Management wants VALCO fully integrated, from refining bauxite to finished products, turning Ghana’s raw materials into industrial muscle, not just exports.

Dr. Sambian summed it up simply:
VALCO stopped waiting for help and decided to fix itself.

If this revival holds, VALCO won’t just be “back.”
It could become one of the strongest pillars of Ghana’s industrial future.

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Registrar of Companies Is Done Playing: Miss Your Filing, Pay GH¢500

If you run a company in Ghana and you’ve been ignoring those Beneficial Ownership reminders, the grace period is officially over.

The Office of the Registrar of Companies has started enforcing penalties, and from January 12, 2026, any company that hasn’t filed its Beneficial Ownership (BO) details will be fined GH¢500. No more warnings. No more extensions.

This is about one simple question the state wants answered:
Who really owns and controls your company?

The Registrar says multiple reminders were sent and a deadline of October 30, 2025 was given. Some companies still didn’t comply. So now, the law is kicking in.

And it doesn’t stop at the fine.
Failing to file, or filing false information, can also lead to criminal charges, including heavier fines or even jail time under the Companies Act.

If your company hasn’t filed its BO information yet, this is the moment to fix it — fast.
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Fuel Prices Just Dropped Again!

Good news for drivers: fuel prices are officially coming down again.
From today, January 16, some Oil Marketing Companies have started slashing pump prices.

Petrol at GOIL has dropped from GH¢10.99 to GH¢9.99 per litre, while diesel is now GH¢11.21, down from GH¢11.96.
Star Oil quickly followed. Petrol is now going for GH¢9.97, and diesel GH¢10.97 at most of its stations.

So what’s driving the cuts?
Two big reasons:
• Global fuel prices have eased due to oversupply
• The cedi keeps getting stronger against the dollar

Together, they’ve pushed prices down by over 3% this pricing window, with LPG also expected to drop by as much as 5%.

This is already the second fuel price reduction this month, and industry watchers say more OMCs are adjusting prices today.

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DVLA’s Digital Number Plate Plan Hits a Legal Wall

Just as Ghana was gearing up for smart, RFID-powered number plates, everything has slammed into pause.
Local embossment companies have taken the DVLA to court, and they’ve won the first round.

A High Court injunction has stopped the rollout of the new digital number plate system after members of the Vehicle Embossment Association of Ghana (VEMAG) accused the DVLA of sidelining them and handing the entire job to a single company without open procurement.

For over 30 years, local embossers have produced Ghana’s number plates, employing more than 3,000 people nationwide. Many invested heavily in specialised machines costing up to GH¢1 million, all based on long-standing agreements with the DVLA. Now they say the new system threatens to wipe them out overnight.

Their key argument is simple:
No tender. No approval from the Public Procurement Authority. Only one company controlling both manufacturing and embossment.

DVLA’s boss says he’s surprised by the lawsuit and insists the new contractor is open to working with existing players. But for now, the courts have hit the brakes.

What this means for you:
• No RFID plates yet
• No automated tracking or smart enforcement, for now
• Vehicle registrations continue as usual with the “26” suffix

The courts will decide the rest.
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Crypto Finally Getting Legislative Backing in Ghana?

For years, crypto in Ghana lived in a grey zone. People were trading, sending, investing, but the law was basically looking the other way. That era is officially over.

On December 29, 2025, President Mahama signed the Virtual Asset Service Providers (VASP) Bill, pulling digital assets into Ghana’s formal financial system for the first time. This isn’t government “watching crypto anymore.” This is government regulating it, owning it, and setting the rules.

By November 2025, crypto transactions in Ghana had crossed $10 billion. About 3 million Ghanaians were already involved, with zero real protection.

Now, the reset is here.

Under the new law, crypto exchanges and digital asset businesses must be licensed and supervised. The Securities & Exchange Commission (SEC) handles exchanges and tokenised assets. The Bank of Ghana steps in on financial stability and even possible gold-backed stablecoins. The Financial Intelligence Centre watches for money laundering and terrorism financing.

For everyday Ghanaians, crypto just moved from “high-risk exchange” to a recognised financial tool. For startups, it opens doors to banks, investors, and partnerships that were impossible before.

This law is about making it work for Ghana.

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Ghana Card Is Now Mandatory for All Bank Transactions.

The Bank of Ghana has tightened the rules, and this one affects everyone.

Under new directives issued in October 2025 and published in January 2026, the Ghana Card is now the primary, and in most cases the only, accepted ID for all banking transactions in Ghana.

Banks and other accountable institutions have been instructed to use only the Ghana Card to identify and verify customers for account opening and transactions. This applies to Ghanaian citizens (home and abroad), permanent residents, and resident ECOWAS nationals.

The move is part of the BoG’s push to strengthen Know Your Customer (KYC) and Customer Due Diligence (CDD) standards, tighten fraud controls, and improve oversight across the financial system. The new guidance replaces the 2022 rules and takes effect immediately.

Bottom line: If you don’t have a Ghana Card, banking just got a lot harder.

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The Government is transforming the 24 Hour Economy Secretariat

Ghana’s 24-Hour Economy is no longer just a policy idea. Government is moving to turn it into law.
President John Dramani Mahama has announced that Cabinet has approved a bill to transform the 24-Hour Economy

Secretariat into a full statutory 24 Hour Economy Authority, which will now go to Parliament.
Once passed, the Authority will regulate the initiative, register participating businesses, and roll out incentives such as financing access, standards, and operational support for companies willing to operate round the clock.

Some sectors have already begun. Tema and Takoradi ports now run 24/7. The Passport Office, foreign missions, and Ghana Publishing Company have adopted shift systems. Government has also set up a 24-hour policing unit to support security nationwide.

The programme has been allocated GH¢110 million, with full implementation expected by the end of 2026.

However, concerns remain. Many SMEs say extended operations come with higher costs, especially electricity, water, staffing, and security, at a time when utility reliability remains uneven.

Government maintains that the new Authority will help address these gaps through incentives and structured support.

One thing is certain: Ghana is now formally committing to an economy that works beyond the traditional 9 t0 5, with productivity, jobs, and investment as the main targets.

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